Leica acquires control of Sinar
Sep 30, 2006 at 11:34:50 GMT
Photokina 2006: In a relatively unexpected industry twist Leica revealed that it had acquired a controlling share (51%) in the Swiss digital medium format camera company Sinar, this purchased from Jenoptik. Leica has stated that it fully intends to continue development of Sinar products under the Sinar brand. We can only assume that Leica will lean on the knowledge and expertise of Sinar in the digital arena to help develop its ever expanding digital line.
Leica Camera AG, Solms, takes over 51% of the
shares of Sinar AG
Leica Camera AG, Solms, takes over 51% of the shares of Sinar AG, Feuerthalen /Switzerland, from JENOPTIK Laser, Optik, SystemeGmbH, Jena ("JENOPTIK"). JENOPTIK and Leica Camera AG have signed corresponding acquisition and transfer contracts on September 25, 2006. Confidentiality was agreed concerning the transfer price.
The existing technical cooperation between JENOPTIK and Sinar AG concerning digital camera backs will be continued.
Sinar AG serves professional photographers with leading solutions in medium and large format cameras, both with analogue and digital technology. Leica Camera AG will continue and develop the Sinar business with the Sinar brand and company structure, based on the shared values of excellence and innovation.
Both companies will benefit from synergies in technical collaboration as well as marketing and sales. Leica Camera AG is confident that the acquisition will bring positive developments for customers, employees as well as shareholders of both companies. This is a first step on the strategic path towards growing the business of Leica Camera AG.